China’s textile industry posts stable growth

BEIJING (Xinhua) – China’s textile sector reported stable development in the first 11 months of 2019, data from the National Development and Reform Commission showed.

Value-added output of enterprises above designated size rose 2.5 per cent year on year, with output in the sub-sectors of fibre, industrial textiles and garment up 11.8 per cent, 7.1 per cent and one per cent, respectively, according to the commission.

Domestic retail sales of apparel and knitwear stood at CNY1.2 trillion (about USD172.4 billion), up three per cent year on year.

Online garment sales continued to expand nationwide, with the turnover reporting a 16.5 per cent yearly growth and new sales modes such as live video streaming attracting consumers, the data showed.

From January to November 2019, China’s textile and garment export declined 2.6 per cent year on year to USD246.9 billion, with the pace of drop decelerating 0.1 percentage point from one month earlier.

Textile firms over designated size generated combined operating revenue of CNY4.03 trillion from January to October 2019, up 0.2 per cent year on year, while the total profit dropped 8.7 per cent year on year to CNY168.8 billion.